Gloomy outlook for state finances

Dec 14 2017

By Jon Chesto, The Boston Globe

You can’t blame Eileen McAnneny, MTF’s president, for being a spoilsport. The GOP tax cuts could total $1.5 trillion over 10 years. It’s a no-brainer, McAnneny says, that Massachusetts will receive less from D.C. going forward as a result. (Federal funds support more than a quarter of the state’s budget.) The fact we have an all-Democratic delegation doesn’t help. MTF’s bottom line: Lawmakers should hope for the best and prepare for the worst, by setting aside $500 million in the state’s rainy day fund. Tax cuts could be good for business. But they don’t come cheap.